N.D. Cent. Code § 4.1-83-24
This is the official text of N.D. Cent. Code § 4.1-83-24, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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4.1-83-24. Maintenance of action - Marshalling of assets
Official statutory text
4.1-83-24. Maintenance of action - Marshalling of assets
1. The agriculture commissioner, as trustee, may in the name of the state upon its own
relation but for the benefit of all claimants against the livestock dealer's bond, maintain
suits or special proceedings upon the bond and against any person who has converted
any of the livestock, for the purpose of marshalling all of the trust assets of the
insolvent dealer and distributing the assets among the claimants.
2. However, recourse must be had against the bond before recourse is had against a
person who knowingly and in good faith converted any of the livestock, unless the
agriculture commissioner determines it necessary that all of the remedies be pursued
at the same time.
1. The agriculture commissioner, as trustee, may in the name of the state upon its own
relation but for the benefit of all claimants against the livestock dealer's bond, maintain
suits or special proceedings upon the bond and against any person who has converted
any of the livestock, for the purpose of marshalling all of the trust assets of the
insolvent dealer and distributing the assets among the claimants.
2. However, recourse must be had against the bond before recourse is had against a
person who knowingly and in good faith converted any of the livestock, unless the
agriculture commissioner determines it necessary that all of the remedies be pursued
at the same time.
Status: in_force · Read it on the official government site
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